According to Bloomberg.com through their interview with an unnamed source, the development of the new version of iPhone is made to also compete with Nokia's OYJ which is very popular in Europe.
The smaller iPhone is reportedly on one-third in size as compared to the previously released iPhone products. It is merely a touch screen with no home button.
In addition to this, this newer version of iPhone is planned to be released in the middle of the year. The version will be sold at 200 dollars without any contract obligation. The source also said that aside from the development of this product, Apple is also developing a much faster technology for iPhone wireless networks.
The reason behind the price drop of the new IPhone price is because of components to be used. Related reports said that it will just use a a processor and a display similar to their previously released products.
IPhone smaller version (Photo)
Photo credit: Bloomberg.com
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